What Is Term Life Insurance

“Term” is used because it provides insurance coverage for a fixed term or period.

Term life insurance pays a lump sum in the event of death or Total and Permanent Disability (TPD) if TPD benefit is provided.

It provides pure protection with no savings or investment features. It is a simple life insurance product and usually the most affordable.

Two Base Plans for Different Coverage Needs

Basic Coverage

Enhanced Coverage

Product Name

DIRECT-Term

Term Life Series Two

What is this plan about?

A simple and affordable protection plan

A flexible and customizable protection plan

How much can you get covered for? (Sum assured)

From S$50,000 to S$400,000

From S$410,000 to S$2,000,000*

*Want more coverage? Let us connect you to our third-party financial advisers.

What are you covered for?

Receive lump sum payout upon

Death

Terminal illness

Total & Permanent Disability

Receive lump sum payout upon

Death

Terminal illness

How long you are covered for? (Policy term)

Policy term of 5 years; 20 years; or Term up to age 65

Customise your plan’s policy term from 1 year to terms up to age 99

Optional riders to enhance your coverage

What is a rider?

A rider is an additional benefit or coverage that is attached to your base plan with additional cost.

DIRECT-Critical Illness Benefit

DIRECT-Critical Illness Benefit

This rider covers 30 critical illness conditions.

Please refer to the Terms and Conditions for more details.

Critical Illness Advance Rider Series Two

Critical Illness Advance Rider Series Two

This rider covers 36 critical illness conditions.

Please refer to the Terms and Conditions for more details.

Disability Advance Rider Series Two

Disability Advance Rider Series Two

This rider covers total and permanent disability.

Please refer to the Terms and Conditions for more details.

Can I increase my coverage amount without further medical underwriting?

Not available

Yes, you may increase your coverage amount in the following life stage events, without further medical underwriting:

Getting married

Birth of a child

Legal adoption of a child

Increase of mortgage by more than 20% due to a house move or undertaking major home improvements.

Guaranteed Insurability

How it Works

Amelia

30 years old

Purchased Term Life Series Two with

S$410,000 Coverage

After giving birth to her child

Amelia decides to increase her coverage to S$500,000

Amelia does not need to do further medical underwriting

This feature is only applicable to Term Life Series Two and Disability Advance Rider Series Two.

The guaranteed insurability option allows you to increase the sum assured on special life stage events without further medical underwriting. The increase of the sum assured comes with extra premium payable and is limited to the lower of S$250,000 or 25% of the sum assured per event.

This option must be exercised within 6 months from the event date. Please refer to the Terms and Conditions for more details.

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Commonly Asked Questions

This plan is available through our website as well as through a third party financial adviser.

If you are interested to purchase this plan directly through our website, please click “GET A QUOTE” on our website and select “Term Life” to start your online application.

If you need financial advice, kindly email us at [email protected] with your name and contact number or call us at +65 6911 1111 and we will connect you with our third party financial advisers.

Increase in sum assured:

Subject to underwriting, you can choose to increase the sum assured within 6 months from the effective date.

Decrease in sum assured:

You can choose to reduce the sum assured at any time, subject to a minimum sum assured of the base plan/riders as required by us.

Addition of riders:

Subject to underwriting, you can choose to add riders within 6 months from the effective date.

Removal of riders:

You can choose to remove riders at any time.

This optional rider covers 36 late-stage critical illnesses. Upon the diagnosis of any of the covered critical illnesses, we will pay the rider’s sum assured.

Your supplementary benefit sum assured will be paid as an acceleration of the base benefit if, during the period of cover, the Life Assured is diagnosed with any of the critical illnesses listed below, except for Angioplasty & Other Invasive Treatment for Coronary Artery.

If the Life Assured undergoes Angioplasty & Other Invasive Treatment for Coronary Artery, we will pay 10% of the sum assured of this supplementary benefit, subject to a maximum amoung of SGD 25,000. The benefit for & Other Invasive Treatment for Coronary Artery is payable once.

The sum assured of this supplementary benefit and the base benefit will be reduced by the amount paid. Premiums payable will be adjusted accordingly based on the reduced sum assured.

The definitions of these critical illnesses are the same as those found in the Life Insurance Association, Singapore’s “Standard Definitions For Severe Stage 37 Critical Illnesses: Version 2014” published on 1 Aug 2014. You may refer to www.lia.org.sg for the said definitions.

There is a 90-day waiting period from the effective date or the latest reinstatement date (whichever is later) before you can make a claim on the following conditions:

DPI plans have broadly standardised product features – making them easier for consumers to understand and purchase without the need for financial advice.

It was first introduced as Basic Insurance Products (BIPs), later changed to Direct Channel Insurance Product (DCIP) and Direct Purchase Product (DPP), and finally confirmed as Direct Purchase Insurance (DPI).

For the DIRECT-Term plan, the Total & Permanent Disability coverage is embedded in the base plan, whereas the sum assured for the optional rider, DIRECT-Critical Illness Benefit will follow the sum assured of the base plan.

For the DIRECT-Term plan, the TPD coverage is embedded in the base plan. Hence, you are unable to request for an opt-out for TPD.

This optional rider covers 30 late-stage critical illnesses.

Below is the list of covered conditions.

1. Alzheimer’s Disease / Severe Dementia

16. Major Burns

2. Aplastic Anaemia

17. Major Cancers

3. Bacterial Meningitis

18. Major Head Trauma

4. Benign Brain Tumour

19. Major Organ / Bone Marrow Transplantation

5. Blindness (Loss of Sight)

20. Motor Neurone Disease

6. Coma

21. Multiple Sclerosis

7. Coronary Artery By-pass Surgery

22. Muscular Dystrophy

8. Deafness (Loss of Hearing)

23. Paralysis (Loss of Use of Limbs)

9. End Stage Liver Failure

24. Parkinson’s Disease

10. End Stage Lung Disease

25. Primary Pulmonary Hypertension

11. Fulminant Hepatitis

26. Stroke

12. Heart Attack of Specified Severity

27. Surgery to Aorta

13. Heart Valve Surgery

28. Viral Encephalitis

14. Kidney Failure

29. HIV due to Blood Transfusion and Occupationally Acquired HIV

15. Loss of Speech

30. Angioplasty & Other Invasive Treatment for Coronary Artery

DIRECT-Critical Illness Benefit does not provide coverage for early stages of critical illnesses.

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Important Notes

The information on this page is meant for your general knowledge and does not regard any specific investment objectives, financial situations or particular needs any person might have.

Before making a commitment to purchase this product, you should consider whether the product is suitable for you by referring to the product summary, terms and conditions and FAQs.

Alternatively, you may wish to seek advice from our third-party financial advisers. Tell us what you’re looking for and one of our representatives will reach out to you.

This policy is protected under the Policy Owners’ Protection Scheme administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage from your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association or Singapore Deposit Insurance Corporation Limited (SDIC).

Information is correct as at 19 September 2019.

This advertisement has not been reviewed by the Monetary Authority of Singapore.